PARIS (dpa-AFX) - FirstGroup Plc (FGROY.PK, FGROF.PK, FGP.L), a provider of public transport services in the UK, anticipates that its adjusted operating profit and adjusted earnings per share for fiscal year 2025 will be ahead of the Group's previous expectations.
The company noted that its balance sheet remains strong and due mainly to the timing of electric vehicle deliveries in First Bus, the Group now expects to end fiscal year 2025 with an adjusted net debt position of about 85 million pounds - 90 million pounds. This is lower than its previous expectations despite completing the 50 million pounds share buyback programme faster than initially anticipated.
The Group continues to anticipate that it will maintain its adjusted earnings per share in fiscal year 2026.
The Group generated revenue of about 23 million pounds from First Bus London in the final month of fiscal year 2025. The Group anticipates annual revenues to grow to 300 million pounds - 350 million pounds with operating margins in line with historical London levels of 6%-7%.
The company noted that trading in the Rail division is ahead of expectations as the Group anticipates higher than previously forecast full year variable fees from the DfT-contracted Train Operating Companies. The team is supporting the Government as the DfT prepares to take over the operation of South Western Railway on 25 May 2025.
The Group will report its results for the year ended 29 March 2025 on 10 June 2025.
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